HSIL, the country’s largest listed sanitaryware company will be using the entire QIP amount to pare debt which currently stands at around Rs 1,000. The interest cost of the company will be reduced by Rs 22.5 crore to Rs 50 crore post repayment of debt.
The company had received an overwhelming response to the Qualified Institutional Placement (QIP) and was successful in raising Rs 250 crore. The issue closed with issue price at Rs 400 per share, at a discount of Rs 12.53 per share to floor price of Rs 412.53 per share.
HSIL is one of the leading domestic players in container glass and building products segments. Under the second segment, the company manufactures and trades in sanitaryware products, faucets and wellness products. It has five manufacturing facilities in India, of which three are located in Andhra Pradesh, one in Rajasthan and one in Haryana.
